Integra Resources Corp. (TSX-V: ITR) (NYSE American: ITRG) is pleased to announce multiple high-grade gold-silver drill results from the Florida Mountain Deposit, located on the DeLamar Project in southwestern Idaho. The drill holes announced today continue to demonstrate high-grade gold-silver mineralization below the Florida Mountain Deposit. The drill results released today cover a strike length of 400 m in the north-south direction and further display the strong vein continuity present at Florida Mountain. The Company believes that further drilling at Florida Mountain has the potential to delineate a high-grade resource that could potentially compliment the economically robust bulk-tonnage operation outlined in the Company’s 2019 Preliminary Economic Assessment.
“Today’s high-grade gold-silver drill results are some of the thickest and best grades released to date by Integra. Consistent high-grade drill intercepts at Florida Mountain are showing strong continuity across multiple vein structures. Over the last three years we have intersected 92 high-grade gold-silver hits over 4.0 g/t AuEq covering strike lengths of 1,300 meters and depth extents of up to 400 m. The significance of this deeper drilling continues to demonstrate the resource expansion potential below Florida Mountain,” noted George Salamis, Integra Resources’ President and CEO. “Our targeted high-grade hit-rate in drilling is now 70% and is indicative of a thorough and increasing understanding of structural and geological controls of these veins and shoots.”
George Salamis continued, “It is evident that high-grade gold-silver resource potential occurs below the existing bulk tonnage, low grade, pit-constrained gold-silver resource that is currently the focus of a PFS expected in Q4 of this year. Integra will continue to pursue high-grade exploration from surface; however, if warranted and supported by additional internal studies and further drilling, the Company may seek to evaluate the possibility of transitioning to underground exploration at Florida Mountain if it appears strongly advantageous. The concept of potentially adding high-grade resources to a larger, bulk-tonnage mining scenario like the one presented in the PEA, could have the potential to further complement and possibly enhance the future economics and/or production profile of the Project.”
Results for Florida Mountain:
The following table highlights selected intercepts from the Florida Mountain drill results announced today:
|Drill Hole||From (m)||To (m)||Interval (m)||g/t Au||g/t Ag||g/t AuEq|
To view a cross section of select high-grade drill results, please click on the following link:
To view a drill location plan map, please click on the following link:
The intercepts reported today consist of mineralization with wide-spread low-grade gold-silver values, crosscut and underlain by narrower high-grade, steeply dipping low-sulphidation quartz-adularia veins. Widespread intercepts from shallow oxide and transitional resource definition drilling conducted by Integra over the previous three years has confirmed potentially mineable widths and grades for these high-grade structures.
To further define the high-grade resource potential at Florida Mountain, the Company has chosen to initially focus on 3 of the 7 known high-grade vein structures. By focusing on these 3 structures, which include the Alpine Vein, Stone Cabin-Tip Top Vein and the remnant Trade Dollar – Black Jack vein, the Company can target drilling to better define each structure and begin modeling any resulting potential resource. The high-grade occurs in the form of steeply plunging shoots with down-dip extents of several hundred meters, primarily within the granite and is capped by lower-grade stockwork and disseminated mineralization (open-pittable) within the overlying volcanics. Strike lengths of the individual shoots tend to be 20 m to 200 m long and with widths of between 1 m and 8 m. Integra refined its understanding of the controls on high-grade vein mineralization at Florida Mountain in 2021 and has been using this model to specifically target the higher-grade “shoots” within the several vein systems identified to date. These higher-grade shoots are interpreted as being localized at the intersections of the principal North-Northwest vein structures with a series of north-east trending splays.
Current Drill Status and Future Drilling
The Company plans to have 3 drill rigs operating on site. Two drill rigs are operating at the DeLamar Deposit and a third drill rig will commence drilling at War Eagle in the coming weeks.
The PFS is currently on track for completion in Q4 2021. All column leach tests for Florida Mountain have been taken down, with the oxide composites complete and the final assays in process for the transitional composites. In general, the 0.5 inch heap leach feed appears to economically out perform both 2 inch and 0.25 inch feed. Florida Mountain unoxidized mill testing continues to advance into the more detailed and optimizing stages. DeLamar column leach composites continue to come on-line as sample preparation is completed. Initial bottles rolls are complete for most of the column composites, which set the column test parameters. Heap leach and mill throughputs have been finalized, and the PFS design work continues to advance at an accelerated pace following completion of the major trade-off studies.
Sampling and QA/QC Procedure
Thorough QA/QC protocols are followed on the Project, including insertion of duplicate, blank and standard samples in the assay stream for all drill holes. The samples are submitted directly to American Assay Labs in Reno, Nevada for preparation and analysis. Analysis of gold is performed using fire assay method with atomic absorption (AA) finish on a 1 assay ton aliquot. Gold results over 5 g/t are re-run using a gravimetric finish. Silver analysis is performed using ICP for results up to 100 g/t on a 5 acid digestion, with a fire assay, gravimetric finish for results over 100 g/t silver.
The scientific and technical information contained in this news release has been reviewed and approved by E. Max Baker Ph.D. (F.AusIMM), Integra’s Vice President Exploration, and Timothy D. Arnold (PE, SME), Integra’s Chief Operating Officer, both of Reno, Nevada. Each is a “Qualified Person” as defined in National Instrument 43- 101 – Standards of Disclosure for Mineral Projects.
About Integra Resources
Integra is a development-stage mining company focused on the exploration and de-risking of the past producing DeLamar Gold-Silver Project in Idaho, USA. Integra is led by the management team from Integra Gold Corp. which successfully grew, developed and sold the Lamaque Project, in Quebec, for C$600 M in 2017. Since acquiring the DeLamar Project, which includes the adjacent DeLamar and Florida Mountain gold and silver Deposits, in late 2017, the Company has demonstrated significant resource growth and conversion while providing a robust economic study in its maiden Preliminary Economic Assessment. The Company is currently focused on resource growth through brownfield and greenfield exploration and the start of pre-feasibility level studies designed to advance the DeLamar Project towards a potential construction decision. For additional information, please reference the “Technical Report and Preliminary Economic Assessment for the DeLamar and Florida Mountain Gold – Silver Project, Owyhee County, Idaho, USA (October 22, 2019).”
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